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ASSIGNMENT OF RENTS AND LEASES This Assignment of Rents and Leases (the "Lease Assignment ") is made to be effective the day of , 2011, between Graba Properties, LLC, a Minnesota Limited Liability Company ( "Assignor "), and City of Little Canada, a Municipal Corporation and Political Subdivision of the State of Minnesota ( "Assignee "). RECITALS: A. The Assignor is the fee owner of certain lands located in the County of Ramsey, State of Minnesota, legally described as follows: Lot 1, Block 1, Drywall Supply Addition to Little Canada Ramsey County, Minnesota, having a street address of 3225 Country Drive, Little Canada, Minnesota 55117 (the "Land "). B. The Land is improved with buildings and related facilities (the "Buildings ") (Land and Buildings sometimes collectively referred to as "Mortgaged Property "); C. On even date herewith, the Assignee has loaned to Assignor the sum of up to Two Hundred Sixty -Two Thousand, One Hundred Forty - Three and 48/100 Dollars ($262,143.48), as evidenced by Assignor's Promissory Note of even date herewith in said principal amount, and any extensions, renewals, modifications or replacements thereof (the "Note), which indebtedness is secured by a Mortgage, Security Agreement and Financing Statement on, in and against the Mortgaged Property; and D. To further secure the payment of the Note and the performance of Assignor's obligations contained in the Note and Mortgage, Assignor has executed and delivered to Assignee this Lease Assignment in addition to the Mortgage covering the Mortgaged Property. ACCORDINGLY, in consideration of the premises and in further consideration of the sum of One Dollar paid by the Assignee to the Assignor, the receipt and sufficiency of which is hereby acknowledged, and subject to the rights of any prior security interest holder or Assignee of said rents and leases, the Assignor does hereby grant, transfer and assign to the Assignee all of